As I talked about that with clients over the past couple of years, there were two primary responses:
- "I have no money to spend on marketing - talk to me when the recession is over."
- "I want to invest in marketing now so that when the recession is over, people will buy from me first."
Since the summer started, the TSE has risen consistently (from 11,093 on July 4th to a high of 13,052 on November 7th - that's over 17% growth in 4 months). Since March 2009 (7,567 on March 8th), it's up 72%. I'm thinking things are looking OK right now.
- OK, the recession is over, is your business investing in marketing again? How, exactly?
- OK, the recession is over now, how did the marketing go? Are people buying from you?
LESSONS FOR SMALL BUSINESS MARKETERS:
- Marketing in down time is advantageous - just pick the inexpensive tactics!
- Choosing not to market in down times puts you at a clear disadvantage (assuming at least a portion of your competition has decided otherwise)
- Remember, marketing is the art and science of creating demand for your product. If you're not marketing (regardless of economic conditions), no demand is being generated. And without demand...
Any marketing success stories from the recession?